Connor BrookeAs the name implies, Baby Doge is a coin that looks to latch on to the success that Dogecoin and Shiba Inu have experienced. Due to its ‘meme coin’ potential, it has been described on numerous social media platforms as one of the best low cap crypto gems. Furthermore, BABYDO has become popular with retail traders looking to enter the crypto market for the first time.
Baby Doge was launched in June 2021, just months after Dogecoin’s remarkable price rise. Since 420 quadrillion tokens were created, the Baby Doge coin price debuted extremely low. Investors could purchase tokens for just $0.000000001488 from various centralized and decentralized exchanges.
After launching, Baby Doge did not begin picking up traction until October 2021 – around the same time that people started to buy Shiba Inu in droves. This had a knock-on effect on the Baby Doge crypto price, causing it to surge by around 1,000%. At this point, BABYDO was trading at $0.000000005213 – yet the high was short-lived.
Like most of the best meme coins, a broad sell-off occurred, causing Baby Doge to lose 75% of its value. However, after bottoming out in December 2021, the price rocketed once more, reaching a high of $0.000000006317 in January 2022. As you can see from the Babe Doge price chart, this remains the coin’s all-time high.
This high was fleeting, and Baby Doge’s value has gradually descended from these lofty heights. Much of this fall from grace can be attributed to the fact that Baby Doge doesn’t seem to have any real-world utility and has not entered the mainstream in a similar way to Dogecoin or Shiba Inu. As such, the Baby Doge price today is trading at just $0.000000001264 – a 78% drop from all-time highs.
Baby Doge Price Prediction
Now let’s turn to our Baby Doge price prediction. As you’ll now be aware, BABYDO has shown itself to be a highly-volatile cryptocurrency, which will appeal to risk-seeking investors. From a technical perspective, the price seems to have created a strong support level around $0.000000001 and appears to be creating a bull flag on the daily chart.
The first price target for Baby Doge, if we see an upwards push, would be $0.0000000035 – a 144% increase from today’s price. If this resistance area was broken, there may even be scope to return to the all-time highs of $0.000000006317, which would represent a return of 338% if you invested today.
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This article was written for Business 2 Community by Connor Brooke.
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